CBL International Ltd (BANL) Form 424B5 — Aug 28, 2026
CBL International (BANL) filed a prospectus supplement on August 28, 2026 to sell up to US$2,368,291.60 of Class B ordinary shares through an at-the-market offering with A.G.P./Alliance Global Partners, replacing its February 2025 ATM prospectus to reflect the new dual-class share structure and the 1-for-13 share consolidation effected July 20, 2026. Sales will be made at prevailing market prices (last reported sale US$13.40 on August 27, 2026), with the agent earning a 3.0% commission; the company estimates net proceeds of roughly US$2.22 million for general corporate purposes, including possible acquisitions, buybacks under its $5.0 million repurchase program, and debt repayment.
Key figures
- Total Debt
- 1893094
- Cash Position
- 9325274
- Gross Proceeds
- up to US$2,368,291.60 (estimated net proceeds ~US$2,217,243 after 3.0% commission and ~US$80,000 expenses)
- Offering Price
- at prevailing market prices (ATM); last reported sale US$13.40 on Aug 27, 2026; US$13.70 assumed for illustrative calculations
- Shares Offered
- 172868
- Shares Outstanding
- 2,115,410 ordinary shares as of Dec 31, 2025 (post-consolidation basis); 1,085,496 Class B shares outstanding as of Aug 26, 2026
- Shelf Capacity
- US$50,000,000 (Form F-3 shelf)
- Reverse Split Ratio
- 1-for-13 (effected July 20, 2026)
- Sales Agent Commission
- 3.0% of gross proceeds
- Customer Concentration
- 60.0% of FY2025 revenue from five customers
- Controlling Voting Power
- ~90.3% held by CBL (Asia) Limited via 10-vote Class A shares
- Non Affiliate Float Value
- US$7,104,874.80
- Share Repurchase Program
- up to lesser of US$5.0M or 5.0M Class B shares (Board approved June 3, 2025)
- Prior Supplement Capacity
- US$2,604,166 (Feb 28, 2025 supplement, superseded)
- Total Shareholders Equity
- US$19,888,825 as of Dec 31, 2025
- Immediate Dilution Per Share
- US$4.121 (~30.1% of assumed US$13.70 price)
- Share Count Dilution If Fully Sold
- ~8.2%
- Sales Agent Expense Reimbursement
- up to $40,000 implementation plus $12,000 per fiscal year
Price after filing
Close on the filing date to close N calendar days later (from $16.10). Historical, not a forecast.
AI analysis
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